Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ET. Barclays decreased their target price on Energy Transfer from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, July 20th. Morgan Stanley boosted their price target on Energy Transfer from $12.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, April 26th. Finally, US Capital Advisors reissued a "buy" rating on shares of Energy Transfer in a report on Wednesday, June 1st. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $14.25.
Energy Transfer Price Performance
Shares of Energy Transfer stock traded up $0.03 on Monday, reaching $10.85. The company's stock had a trading volume of 267,871 shares, compared to its average volume of 22,167,424. The company has a market capitalization of $33.48 billion, a P/E ratio of 8.79 and a beta of 1.90. Energy Transfer has a 52-week low of $7.96 and a 52-week high of $12.48. The stock has a 50-day moving average price of $10.65 and a 200-day moving average price of $10.64. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 1.39.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This is a boost from Energy Transfer's previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.48%. Energy Transfer's payout ratio is 64.00%.
Insider Activity
In other Energy Transfer news, Director Richard D. Brannon acquired 26,027 shares of the business's stock in a transaction dated Thursday, July 14th. The stock was acquired at an average cost of $9.47 per share, for a total transaction of $246,475.69. Following the completion of the transaction, the director now directly owns 388,347 shares of the company's stock, valued at $3,677,646.09. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.28% of the company's stock.